03/27/2023
Middle class to pay Sh2.7bn more per month for power
The new tariffs will see electricity prices increase by between 15 percent to 20 percent on average from next week, setting up consumers for higher prices of manufactured goods.
Comment, Analysis & Research
03/27/2023
The richest people in South Africa in 2023 – including a billionaire who doubled his fortune
In addition to this, total billionaire wealth was also down 10% compared to last year, with the richest people in the world worth a cumulative US$13.7 trillion.
03/27/2023
What to expect from the Reserve Bank’s interest rate decision this week
Old Mutual Wealth strategist Izak Odendaal also sees the SARB hiking rates by 25bps – but thinks that the rate should hold instead.
03/24/2023
Government fails businesses in South Africa
The Health Department was the worst offender and owed more than R55 million to businesses in roughly 2,000 invoices by the year’s end.
03/23/2023
SA-born Credit Suisse finance boss is at the centre of rescue battle
Credit Suisse has been bleeding billions following the collapse of the UK lender Greensill Capital and the US investment firm Archegos Capital over recent years.
03/21/2023
Africa accounts for 55% of world’s poor – ECA
And we have estimated 548 million Africans living in poverty in 2022 and 149 million at risk of falling into poverty in the same year.
03/21/2023
Bosses realise most meetings are a waste of time and money
Survey shows many Zoom calls and project updates could disappear without any negative effect
03/14/2023
Brace for higher inflation numbers this month: Absa
Forward-rate agreements, used to speculate on borrowing costs, show traders are pricing in a 25 basis-point increase.
03/13/2023
South Africa is in trouble
While market consensus expected South Africa’s Q4 data to show a contraction of 0.4% for the period, the final figure came in at -1.3%.
03/13/2023
I am not leaving, says Safaricom CEO Ndegwa amid departure speculation
But the career manager who built a 25-year reputation around the world as a turnaround artist said he is “not worried” about his future at the company, and so he will not be drawn into the speculative debate about his tenure.
03/10/2023
The blows keep coming for South Africa
The current-account gap and the budget shortfall, which the Treasury sees narrowing to 4% of GDP in the fiscal year through March 2024
03/07/2023
Top banking CEO on South Africa: ‘This can’t continue’
Network infrastructure – mainly provided by state-owned monopolies and needed to enable higher levels of GDP growth
03/06/2023
New branch to get your Smart ID and passport in South Africa launches today – more coming soon
During his response to the State of the Nation Address on 17 February, home affairs minister Motsoaledi said that people would soon be able to get their passports and smart IDs at select malls.
03/06/2023
Government giving businesses in South Africa the cold shoulder
Mavuso said that recent efforts from the Presidency and the National Treasury to unlock economic reforms have racked up a handful of achievements
03/02/2023
The world's ultra-rich lost about $14 trillion of their wealth in 2022, Knight Frank study shows
The London-based real estate consultancy surveyed 500 private bankers, wealth advisors, and family offices who manage over $2.5 trillion in collective wealth for ultra-high net worth individuals.
03/02/2023
Kenyan bank where walk-in customers are forbidden
Back in Kenya, he worked briefly in the banking sector before an opportunity arose. Around 1985, a group of churches in Kisumu came together.
03/02/2023
Kenya’s super rich return offshore cash in rare move
Globally, ultra-high net worth individuals (UHNWIs) saw their fortunes slashed by 10 percent on average
03/01/2023
SARS is making South Africa more like Switzerland
The group said South Africa is becoming increasingly tax-friendly for foreign business.
02/28/2023
The average take-home pay in South Africa right now
Inflation reached a 13-year high of 6.9% in 2022, and is forecasted to average at around 5.7% in 2023.
02/28/2023
World Bank projects that East Africa will get richer under African Continental Free Trade Area
Real income will rise by 11.8%, 3.8%t, and 3.6% in Kenya, Uganda, and Rwanda, respectively.